High school to work: How did Millennials fare?
基于流动抽样数据，研究了千禧一代高中毕业生按种族和性别划分的学校到工作过渡，发现白人男性劳动力市场恶化导致种族差异消失，性别工资差距仅由生产力差异驱动。
This paper studies Millennials’ school-to-work transition by race and gender based on flow-sampled data. We construct labor market histories upon entry for a sample of high school graduates, and estimate a wage posting equilibrium search model. We find the labor market deteriorated substantially for white male Millennials relative to those in Generation X resulting in the disappearance of racial differences. Further, Millennial males search less efficiently but receive higher mean wage offers than females pointing to a gender wage gap driven only by productivity differences. • We study labor market outcomes of Millennials’ high school-to-work transition. • We use flow-sampled data and compare outcomes across race, gender and generations. • Racial and gender differences in search behavior have disappeared across generations. • White males saw their labor market opportunities deteriorate over time. • Gender wage gaps are no longer due to search differences across males and females.